Texas realesate investment?
Posted on January 29th, 2010 by admin
I live in Los Angeles and I am considering purchasing realestate in texas. I am trying to generate positive cash flow. I am looking for 1 stop place where broker can help me purchase and help me with property management. Since I live in LA it has to be someone extremely responsible and knowledgeble. If you had positive experience in this area please let me know who I should contact
You’re too late. Too many investors have already bought, driving sale prices up and driving rental prices down.
In San Antonio, there are new, never been lived in houses, sitting vacant since July because they’re not renting. Also, when they do rent it will not be for a positive cash flow.
The average sale price in San Antonio is about $165K. A house in that price range, bought with a 5% down payment and 6% interest will have a mortgage (with escrows for tax and insurance) of about $1,600. That house will then be able to rent for about $975 to $1,150.
My broker is a full time property manager and this past summer was getting calls from SO many California investors who had just bought houses that they wanted him to rent for them. Their hearts were broken when he told them the facts of how much they could rent for.
January 30th, 2010 at 12:51 am
You’re too late. Too many investors have already bought, driving sale prices up and driving rental prices down.
In San Antonio, there are new, never been lived in houses, sitting vacant since July because they’re not renting. Also, when they do rent it will not be for a positive cash flow.
The average sale price in San Antonio is about $165K. A house in that price range, bought with a 5% down payment and 6% interest will have a mortgage (with escrows for tax and insurance) of about $1,600. That house will then be able to rent for about $975 to $1,150.
My broker is a full time property manager and this past summer was getting calls from SO many California investors who had just bought houses that they wanted him to rent for them. Their hearts were broken when he told them the facts of how much they could rent for.
References :
14 yrs San Antonio Realtor
January 30th, 2010 at 1:11 am
PICK ME…PICK ME….!!!!!!!
I work @ IDC Realty in Killeen Texas, we are a Full Service Property Management Company, our Broker can assist you in the purchase of the Property, and we can manage it…check us out @
http://www.idcrealty.net!!!!
By the way….we are a Military town…Ft Hood…and the rental market here is great!
References :